News / Intra-Asia rates hit by ripples from chaotic ocean container trades and China slowdown

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Weak trade demand and rampant competition between ocean carriers has led to unsustainable freight rates on some intra-Asia networks.

The decline has forced MCC Transport, Maersk Line’s intra-Asia specialist, to consolidate its network.

“We had to rationalise by closing two services and taking six ships out,” said Naresh Potty, MCC Transport’s chief commercial officer.

He added: “We are satisfied with this round of rationalisation, as we fortunately managed to improve our products and provide more direct port-pairs, which is important in intra-Asia trade.”

Mr ...